Altia Q1 sales boosted by spirits

Finnish drinks group Altia saw its net sales grow by 2% in the first quarter of 2018, driven by the company’s core spirits brands.

Altia’s O.P. Anderson aquavit distillery opened last year in Sundsvall, Sweden

In the company’s first three months of 2018, net sales reached €73.5 million (US$87.9m) – up 2% compared to the same period in 2017.

Although sales were impacted by “unfavourable currency fluctuations”, the timing of Easter “contributed positively” to sales and profit.

Net sales of spirits increased by 1.9% to €26.3 million (US$31.4m), driven by the “continued good development” of Altia’s Nordic core brands.

During the first quarter, Altia released Renault Avec – an expression specifically designed to pair with coffee. In Denmark, the company also launched a new Schnapps.

In terms of exports, the company has been focusing on its core Nordic brands – Koskenkorva, O.P. Anderson aquavit and Cognac Larsen. Exports are experiencing “good progress” and developing according to the company’s expectations, it reported.

The new Alcohol Act in Finland, which came into effect at the beginning of the year, has opened the retail channel for the company’s own and partner brands.

The company confirmed it would launch an initial public offering (IPO) in February, which was completed at the end of March. Altia said the IPO attracted “strong demand and was significantly oversubscribed”.

CEO Pekka Tennilä said: “We will continue to further improve our ability to develop and compete successfully in the alcoholic beverage markets in the Nordics and globally. Going forward, we will continue to focus on our strategic streams: to grow the Nordic core brands, to execute a step change in wines, and to strengthen strategic partnerships and channel expansion while continuing to improve overall efficiencies.”

At the company’s annual general meeting on 1 March, Sanna Suvanto-Harsaae was elected chair of the board of directors.